Strategas Research Partner Chris Varrone, SlateStone Wealth chief market strategist Kenny Polcari and Kaltbaum Capital Management President Gary Kaltbaum discuss the 10-year Treasury yield, inflation and today’s markets.
U.S. stock futures were little changed Tuesday morning as the Federal Reserve is set to kick off its latest meeting.
Dow Jones Industrial Average futures were unchanged while S&P 500 futures ticked up 0.11% and Nasdaq 100 futures advanced 0.16%. Both the S&P and the Nasdaq finished at all-time highs on Monday.
The Fed will begin a two-day meeting with investors awaiting Wednesday’s decision, which could provide clues into when the central bank may begin tapering its asset purchase program and raising rates. Also of interest will be the release of the Fed’s Summary of Economic Projects, which will provide updates on the outlook for inflation, employment and economic growth, among other things.
More immediately, investors will receive the latest updates on retail sales and producer prices, which will both cross the wires at 8:30 a.m. ET.
In stocks, Boeing Co. shares were in focus after the U.S. and the E.U. resolved a 17-year-long dispute over aircraft subsidies. The agreement brings an end to tariffs on $11.5 billion of goods including E.U. wine and U.S. tobacco and spirits.
Meanwhile, Southwest Airlines Co. flights have resumed after the airline early Tuesday issued a ground stop due to “intermittent performance issues” from third-party weather data.
Fully vaccinated visitors to Walt Disney Co.’s U.S. theme parks will not be required to wear masks in most places beginning on Tuesday.
Ford Motor Co. said production and shipments of its Bronco SUV have begun from its Michigan assembly plant. The vehicle was supposed to launch earlier this year, but was delayed due to supply chain issues caused by COVID-19.
In commodities, West Texas Intermediate crude oil climbed 54 cents to $71.42 a barrel and gold rose 60 cents to $1,866.50 an ounce.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Overseas markets mostly gained.
European bourses were higher across the board, with Germany’s DAX 30 advancing 0.53%, France’s CAC 40 rallying 0.42% and Britain’s FTSE 100 edging up 0.29%.
In Asia, China’s Shanghai Composite slid 0.92% and Hong Kong’s Hang Seng index fell 0.71%, while Japan’s Nikkei 225 gained 0.96%.
